UniCredit will buy 11.72% of ZABA from Allianz. Also, UniCredit, although not prevented from a legal point of view, states it is not currently considering delisting ZABA shares from the stock market nor a squeeze-out of the minority shares.

On Friday it was announced that UniCredit will buy 11.72% of ZABA from Allianz. We note that UniCredit is the biggest shareholder of ZABA, currently holding 84.48% of the shares. After this transaction, UniCredit will own 96.2% of ZABA shares with the intention to unwind their direct and indirect shareholdings in the country.

Further, UniCredit states that although not prevented from a legal point of view, it is not currently considering delisting ZABA shares from the stock market nor a squeeze-out of the minority shares.

Within the context of its strong support to CEE banking operations and clients, UniCredit is reinforcing its position in the Croatian banking market, given its strong local commercial presence, as well as the country’s positive GDP forecasts and its upcoming Euro area membership.